Mechanics Bank Trust Department Buys Shares of 1,038 Arthur J. Gallagher & Co. (NYSE:AJG)

Mechanics Bank Trust Department acquired a new stake in Arthur J. Gallagher & Co. (NYSE:AJG - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 1,038 shares of the financial services provider's stock, valued at approximately $358,000.

A number of other large investors have also recently bought and sold shares of AJG. Norges Bank bought a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter worth approximately $1,421,591,000. Vanguard Group Inc. increased its position in Arthur J. Gallagher & Co. by 14.9% during the 4th quarter. Vanguard Group Inc. now owns 29,672,134 shares of the financial services provider's stock worth $8,422,435,000 after buying an additional 3,851,661 shares during the period. Winslow Capital Management LLC acquired a new stake in shares of Arthur J. Gallagher & Co. during the 4th quarter worth $719,489,000. Capital World Investors grew its holdings in shares of Arthur J. Gallagher & Co. by 30.4% during the 4th quarter. Capital World Investors now owns 8,199,413 shares of the financial services provider's stock worth $2,327,403,000 after purchasing an additional 1,910,471 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Arthur J. Gallagher & Co. by 162.0% in the fourth quarter. Wellington Management Group LLP now owns 2,822,319 shares of the financial services provider's stock valued at $801,115,000 after buying an additional 1,745,283 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.

Insider Activity

In other news, VP Scott R. Hudson sold 7,510 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $333.59, for a total value of $2,505,260.90. Following the completion of the transaction, the vice president now owns 90,020 shares in the company, valued at $30,029,771.80. This trade represents a 7.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David S. Johnson sold 1,000 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $342.04, for a total value of $342,040.00. Following the transaction, the director now directly owns 45,323 shares of the company's stock, valued at $15,502,278.92. This represents a 2.16% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,510 shares of company stock worth $11,033,341. 1.60% of the stock is currently owned by insiders.

Arthur J. Gallagher & Co. Stock Performance

Shares of AJG traded down $8.36 during mid-day trading on Thursday, hitting $327.99. The stock had a trading volume of 1,851,429 shares, compared to its average volume of 1,335,169. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.51. Arthur J. Gallagher & Co. has a 52 week low of $250.72 and a 52 week high of $351.23. The firm has a market cap of $84.00 billion, a P/E ratio of 50.30 and a beta of 0.78. The business has a fifty day moving average price of $332.75 and a 200-day moving average price of $316.55.

Arthur J. Gallagher & Co. (NYSE:AJG - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $3.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.57 by $0.10. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.85 billion. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. The firm's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.45 EPS. On average, equities research analysts expect that Arthur J. Gallagher & Co. will post 11.54 EPS for the current year.

Arthur J. Gallagher & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $2.60 annualized dividend and a dividend yield of 0.79%. Arthur J. Gallagher & Co.'s dividend payout ratio (DPR) is presently 37.63%.

Analyst Upgrades and Downgrades

AJG has been the topic of several research analyst reports. Redburn Atlantic assumed coverage on Arthur J. Gallagher & Co. in a research note on Tuesday, March 25th. They issued a "neutral" rating and a $352.00 price objective on the stock. Barclays lifted their target price on Arthur J. Gallagher & Co. from $308.00 to $346.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th. Jefferies Financial Group decreased their price objective on Arthur J. Gallagher & Co. from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday, April 11th. Keefe, Bruyette & Woods boosted their price objective on Arthur J. Gallagher & Co. from $315.00 to $326.00 and gave the company a "market perform" rating in a report on Thursday. Finally, Wells Fargo & Company lifted their target price on Arthur J. Gallagher & Co. from $370.00 to $372.00 and gave the company an "overweight" rating in a research report on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Arthur J. Gallagher & Co. has an average rating of "Hold" and an average target price of $319.36.

Arthur J. Gallagher & Co. Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.